Economics:
What is GDP/output gap...the diff between potential GDP and nominal or real GDP?
Need help abt the characteristics of the following regarding ....normal/abnormal profits in the short or long term, where does equilibrium occur on the graph in short term/long term, the position on the graph where profit maximization occurs if it does(MC=MR etc), when is it necessary to make a normal profit (in short/long run) :
1)Monopoly
2)Mono Competition
3)Perfect Competition
4)Oligopoly